If you have been following this blog or read the older listings on June 3 I wrote about what I thought was the next steps in the American economy. Sounds like the professionals are starting to agree as evidenced in the linked story.
The story is more scholastic than what I normally like to read and much to complicated for me but the point is: once the gov't boost to the economy runs out if we have not taken personal responsibility to prepare ourselves for the next wave we could be in another wave of the storm. I sound like such a radical but I do believe these are radical times.
Is this a gloom and doom message? No, not at all. It is a move to higher ground message. Gather what is important like family, friends, and values, and be prepared to shore up or let go of what can be replaced.
Save money, don't spend irresponsibly, and cut expenses where you can before you are forced to give up things you need. Basically, get In The Trenches and don't expect the gov't to do it all for us. They are doing what they can with the new credit card laws, home mortgage modifications, and extention of unemployment benefits. They can't do it all and we will be disappointed and angry if we expect them to. Many already are and are marching the streets.
We are not victims, we are participants and we need to participate in the recovery just like we participated in spending spree. It's our homes, our neighborhoods, and our country. Anything we can do to prepare ourselves, our families, and our community is a good thing. If our neighbor is out of food we will need to help feed them one way or another so let's get to higher ground and help our neighbor to get there also.